Principal Financial Group Inc. Buys 377 Shares of CDW Co. (NASDAQ:CDW)

Principal Financial Group Inc. boosted its stake in CDW Co. (NASDAQ:CDW) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,839 shares of the information technology services provider’s stock after acquiring an additional 377 shares during the quarter. Principal Financial Group Inc. owned 0.13% of CDW worth $38,887,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in CDW during the 3rd quarter worth about $416,111,000. Janus Henderson Group PLC lifted its position in CDW by 7,029.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after buying an additional 1,446,025 shares in the last quarter. Holocene Advisors LP bought a new stake in CDW during the 3rd quarter worth about $172,217,000. Perpetual Ltd bought a new stake in CDW during the 3rd quarter worth about $158,300,000. Finally, Canada Pension Plan Investment Board lifted its position in CDW by 2,045.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 294,302 shares of the information technology services provider’s stock worth $65,877,000 after buying an additional 280,584 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays lowered their price objective on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CDW has an average rating of “Moderate Buy” and a consensus target price of $241.75.

CDW Stock Up 0.6 %

Shares of CDW opened at $175.56 on Tuesday. CDW Co. has a 52 week low of $170.68 and a 52 week high of $263.37. The firm has a market cap of $23.40 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. The firm’s 50-day simple moving average is $190.37 and its 200 day simple moving average is $211.36. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40.

CDW (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the company posted $2.60 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts forecast that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio is presently 30.56%.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.